Medical Equipment Rental Market in the US Set for Growth - Market Forecasted to Grow to $8.92 Billion by 2028 - ResearchAndMarkets.com
06 Dec 2023
DUBLIN--(BUSINESS WIRE)--The "US Medical Equipment Rental Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
'US Medical Equipment Rental Market - Focused Insights 2023-2028'
The US medical equipment rental market is poised for expansion, with a comprehensive new report providing key insights into the industry's current landscape and future trajectory from 2023 to 2028. This in-depth analysis underscores the growth drivers, market challenges, and significant trends shaping the market.
Market Dynamics and Segment Analysis
Encapsulating a period of detailed research, the report highlights the US medical equipment rental market's valuation at $7.84 billion in 2022, with projections to escalate to $8.92 billion by 2028, growing at a steady CAGR of 2.17%. The market's momentum is attributed to several factors: an aging population, an upsurge in chronic disease incidence, technological advancements in healthcare equipment, and the high cost of medical equipment ownership. These elements collectively create a robust environment for the rental market's growth.
With a spotlight on product segmentation, medical imaging equipment takes precedence, currently holding the largest market share and anticipated to grow at a CAGR of 2.01% over the forecast period. However, patient monitoring equipment is not to be overshadowed with expectations to register the highest CAGR of 2.66% within the same timeline.
End-User and Rental Type Focus
In terms of end-user segments, hospitals maintain dominance, accounting for the largest market share. Yet it's clinics and physician offices that may witness the highest CAGR of 2.58% during the forecasting phase. The report dissects the rental market further, differentiating between new and used equipment rentals, offering exhaustive insights into these sub-markets.
Key Players and Market Opportunities
US-Med Equipment Inc
The landscape is characterized by intense competition and strategic alliances. Well-established players are engaging in acquisitions and collaborations to fortify their market positions and tap into innovative product offerings. Additionally, this ecosystem sees the contribution of other notable entities delivering state-of-the-art medical equipment rental services.
Forward-Looking Insights
This report serves not only as a historical account but also as a forward-looking document, extrapolating trends and identifying potentials that could redefine the industry's path forward.
Organizations innovating in medical equipment rentals are set to offer unprecedented patient care and management opportunities through cutting-edge technologies, ultimately fueling market festivities.
For more information about this report visit https://www.researchandmarkets.com/r/immpb0
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